How To Buy & Store P3NGUIN Cryptocurrency: For Beginners
SpacePenguin Cryptocurrency8 min read·Just now--
This is a straightforward tutorial on how to safely buy and store SpacePenguin cryptocurrency in your own self-custody MetaMask wallet. This is not financial advice.
Note: This tutorial is for complete beginners with zero background in cryptocurrency. It’s what I would tell myself if I had no knowledge on the topic. There are many ways to buy and store cryptocurrency. In my opinion, this is the easiest method with the fewest steps — fewer buttons to push and less confusion overall.
Step 1: Create a Metamask wallet
MetaMask is my personal go-to. I’ve been using it since 2017, so even though there are many other options for self-custody wallets, we’ll be using this as the example. Make sure to go to the official MetaMask website: https://metamask.io (be 100% sure you’re on the correct website). Find and click Get MetaMask (this may vary slightly between browser and mobile). Choose your preferred option: browser extension, mobile app, or web app version of the wallet. Once you have installed your wallet (whether in your browser or on your phone), proceed with creating your personal wallet. You’ll see two prompts — click Create a new wallet. Next, you’ll see more options. Click Use secret recovery phrase. You’ll then be prompted to create a password so you can log into your wallet on that device. Make sure to write down your password and keep it safe. Keep in mind: The password you create is not your secret recovery phrase. It is only used to log into your wallet on that specific device. If you lose your password, MetaMask cannot reset it for you. However, if you lose your password, you can always import your secret recovery phrase into another browser or mobile app and still access your funds. After creating your password, you will see this message:
“Save your Secret Recovery Phrase — This is your Secret Recovery Phrase. Write it down in the correct order and keep it safe. If someone has your Secret Recovery Phrase, they can access your wallet. Don’t share it with anyone, ever.” This is the most important step in creating and maintaining your self-custody cryptocurrency wallet. Do not share your secret recovery phrase with anyone, ever. Support will never ask for your recovery phrase. Do not store your secret recovery phrase on your phone or computer. Instead, write it down — in the correct order — on two separate pieces of paper and store them in two separate secure locations. If you lose your recovery phrase, you lose your funds forever. You can also import your wallet into multiple devices (for example, both the phone app and browser extension) using the same secret recovery phrase. Now you’re cooking! You have your MetaMask wallet set up and protected. It’s time to fund your wallet.
Step 2: Buy $BNB
First off, I want to make a quick note: You can buy BNB directly in the MetaMask app. However, it tends to create more confusion for people who truly have no idea what they’re doing. When I originally planned this article, I started writing out the steps to buy BNB straight through MetaMask. It quickly became too long and complicated, which would defeat the simplicity this tutorial is meant to provide. Instead, I’m sticking to my roots and using Coinbase to acquire BNB easily.
Moving forward…
Download the Coinbase app on your phone or visit the official website: https://www.coinbase.com. Create an account, then go to your account settings and add a debit or credit card as your payment method. Once that’s done, search for BNB in the search bar. Click on BNB when it appears in the dropdown.
Simply click Buy (on mobile it says Buy & Sell). Type in the amount of BNB you want to purchase, review the order, and then click Buy Now. Boom — now you own BNB, which you’ll use to swap for P3NGUIN in the next steps.
Step 3: Send BNB coin from Coinbase to your Metamask wallet
Here’s the fun part where you get to make your first cryptocurrency transfer! Were learning a lot today.
Open your Metamask wallet. Click on the button that says Receive. Type BNB in the search bar or scroll down and find BNB chain. Copy the address by clicking the little copy button on the right hand side. Heres a visual below:
Now you have your MetaMask public address where you can deposit BNB. Open Coinbase, go to your crypto holdings, click Transfer, then click Send Crypto. Paste the address you copied from MetaMask into the address field at the top. Double-check that the address is exactly the same. Sending cryptocurrency to the wrong address cannot be reversed, and your funds could be lost forever. Coinbase support cannot help you if this happens. Once you’re sure the address is correct, choose the amount of BNB you want to send to your MetaMask wallet. Click Preview (if it doesn’t move forward automatically). Review the transaction details and click Send Now. Congratulations! You’ve just made your first cryptocurrency transfer. The transaction should take anywhere from 30 seconds to 2 minutes, depending on network congestion.
Step 4: Swap BNB for P3NGUIN on SmartDefi.com
It’s time to make your first cryptocurrency swap! Go to the official website: SmartDefi.com. Be 100% sure you are on the correct website. Connecting your MetaMask wallet to a malicious or phishing site can result in the permanent loss of your funds. Remember: When using a self-custody cryptocurrency wallet like MetaMask, you are your own bank. You must stay vigilant against scammers trying to steal your money. Now that your positive you are on the correct website go ahead and type P3NGUIN in the search bar up top.
Click our logo — it will take you to our token page. This is where you can view the chart, learn more about our tokenomics, and most importantly, swap BNB for P3NGUIN. In the top right corner of the page, you’ll see a large button that says Connect Wallet. Click it. A pop-up will appear showing wallet options. Select MetaMask (since that’s the wallet we’re using). MetaMask will open. If it’s locked, enter your password (this is not your private key or secret recovery phrase). You will then be prompted to connect your MetaMask wallet to SmartDefi.com — click Connect.
Now your wallet is connected to SmartDefi.com and ready to swap BNB for P3NGUIN! Navigate back to the SpacePenguin token page. On the far right, you’ll see the swap section. Select the amount of BNB you want to swap for P3NGUIN, then click the blue Swap button at the bottom.
Metamask will open and ask you to confirm or cancel the transaction. Click Confirm.
Congratulations! You’re now the proud owner of P3NGUIN cryptocurrency — built to donate to charity and ready to scale.
Side Note: If your transaction fails for any reason, the first troubleshooting step is to increase your slippage to 5%. You’ll find this option in the swap settings (above the blue Swap button). This is very common, so I wanted to mention it. Remember: The colony can always assist you in our Telegram group (link is on our website: spacepenguin.co).
Important Safety Reminders:
- Admins will never direct message you first.
- We will never do a coin migration.
- We will never ask you to send your funds anywhere.
- We will never ask for your private key or secret recovery phrase.
- Official announcements will only be posted on our main X account, Twitter, Reddit, and Discord — nowhere else.
The same applies to MetaMask and Coinbase: Their representatives or staff will never message you first or ask for your private keys or personal information.
Wrap Up: Safety lesson and key points in self custody cryptocurrency wallets ect.
I’ve said this multiple times throughout this tutorial, and I’m going to say it again: Always make sure you are on the correct website when downloading wallets or trading. Scammers frequently clone websites with slightly different URLs to trick you into downloading malicious software or connecting your wallet to a fake platform that can steal your funds. If your funds are stolen, they are usually irretrievable. Since you are 100% in control of your own funds, no third party or support team can reverse transactions on the blockchain.
- Never send your funds to anyone who promises to double them. If it sounds too good to be true, it almost certainly is.
- Never give your private key (or secret recovery phrase) to anyone, no matter what they promise.
- Do not store your private keys or recovery phrase on your computer or phone. Instead, write them down in the correct order on two separate pieces of paper and store the papers in two separate secure locations. If you lose your recovery phrase, you lose access to your wallet forever.
Being your own bank is exciting, but it also requires due diligence and attention to detail. If this tutorial helped you or sparked your interest, I encourage you to do further research so you can become a more knowledgeable trader and investor. Below are some helpful YouTube tutorials in case you ran into any issues while following the steps above:
Setting up a Coinbase account:
Setting up a Metamask wallet:
Message to the colony: If you’re ever onboarding friends, family, or anyone interested in P3NGUIN, this is a great resource to share with them. The reason I wrote this tutorial is that cryptocurrency can be incredibly hard to grasp as a complete beginner — and that’s one of the main reasons blockchain technology, despite being cutting-edge, hasn’t been widely adopted yet. At least now we have a clear, step-by-step guide on how to invest in our project, along with some really important basic info on how to store cryptocurrency securely.
This concludes our second Medium article!
Written from the heart by Treece, Colony leader at spacepenguin.co
